Ashurst has advised Xchanging plc, the business processing, procurement and technology services provider on its £64.1 million acquisition of the European operations of US-headquartered insurance software company Agencyport Software. Agencyport Europe is headquartered in London and provides software to the property & casualty and healthcare insurance markets, with a particularly strong presence in the UK.

The acquisition advances Xchanging's growth strategy of acquiring further technology that either complements existing technology offerings or enhances the value generating capability of its existing business, particularly through ownership of intellectual property.

The Ashurst team was led by corporate partner Karen Davies, assisted by senior associate David Dowding, associate Chris Phillips, and solicitor Jacob Gold. Senior associate Mark Sweny and associate Caroline Hogan advised on the intellectual property aspects of the transaction, while tax advice was provided by partner Richard Palmer and senior associate Philippa Michie. Employment, incentives and pensions advice was given by associate Andrew Valerio and solicitor Sarah Hutter (Employment), counsel Stephen Diosi (Incentives) and partner Marcus Fink and associate Daisy Jones (Pensions). Real estate counsel Chris Taylor advised on the property aspects of the transaction.